ChainCatcher news, GMX officially stated that security research institutions such as PeckShield and other blockchain security experts have discovered vulnerabilities in the funds pools (cauldrons) using GM tokens in Abracadabra/Spell that have been exploited.GMX has made it clear that the GMX smart contracts are unaffected and are operating normally; the issue is only related to the funds pools of Abracadabra/Spell. These funds pools allow users to use specific GM liquidity tokens as collateral for borrowing. Currently, Spell, the GMX team, and security researchers are investigating the cause of the issue.ChainCatcher previously reported that the blockchain security company PeckShield released the latest data, showing that the losses from the GMX and MIM Spell security vulnerability incident have increased to approximately 6260 ETH, equivalent to about 13 million USD at current market prices.

ChainCatcher news, RACA has burned 2.4 billion RACA tokens, worth 500,000 USD.This is its second large-scale burn of RACA tokens in 2024. The first burn took place in September, when 6 billion RACA tokens were burned, worth 1 million USD.According to RootData, RACA is a metaverse platform for game studios, managed by a community-driven decentralized autonomous organization, which has a large and experienced development team, hundreds of volunteers, and a massive fan base. RACA's products include Metamon, a blockchain-based play-to-earn game on the BNB Chain.

ChainCatcher news, the Brazilian Federal Police launched "Operation Alcacaria" this Wednesday, aimed at combating operators who provide money laundering services using cryptocurrencies. In addition, the police are tracking and investigating exchanges that collaborate with these operators to provide liquidity for their money laundering activities. However, the names of those involved have not yet been released.This operation issued 62 search warrants, 13 arrest warrants, and seized funds from the involved entities' banks.

ChainCatcher news, according to @ai_9684xtpa's monitoring, two minutes ago, DWF Labs deposited 6.18 billion RACA to OKX, worth 1.87 million USD, and if sold all, it would profit 967,000 USD.DWF received 15 billion RACA on April 2, 2023, at an average price of only 0.0001918 USD (current price 0.0003948 USD), and currently still has 10.9 billion tokens remaining, worth 4.32 million USD.

ChainCatcher news, according to official sources, the DeFi protocol Abracadabra.Money (MIM_Spell) has announced the launch of MIMSwap, with LP, staking, and locking features now available on its front end.

ChainCatcher message, according to monitoring by Shield, the address marked as the attacker of Abracadabra.Money has transferred approximately 200 ETH (about $803,000) to Tornado Cash.

ChainCatcher news, according to monitoring by Shield, the attacker address of Abracadabra.Money has transferred 200 ETH (approximately 700,000 USD) to Tornado Cash.

ChainCatcher message, PeckShield monitoring shows that the address marked as the Abracadabra Money attacker has transferred 200 ETH (621,577.64 USD) to Tornado Cash.

ChainCatcher message, the DeFi protocol Abracadabra Money (MIM_Spell), which was previously hacked, stated on the X platform that it is willing to coordinate directly with the hacker and offer a fair bug bounty in exchange for the return of the stolen funds. Abracadabra Money expressed its willingness to wait for any communication from the hacker until 16:00 Central European Time on February 5 (Monday), after which further escalation actions will be taken.

ChainCatcher news, DeFi protocol Abracadabra.Money (MIM_Spell) has stated that it is aware of a protocol vulnerability issue, and the engineering team is investigating. The DAO treasury will repurchase MIM from the market and then burn it.According to previous reports, PeckShield monitored that the DeFi protocol Abracadabra.Money (MIM_Spell) was attacked by hackers, resulting in a loss of 6.49 million dollars.

ChainCatcher message, OKX officially launched leveraged trading, simple earn coins, and RACAUSDT perpetual contracts for RACA/USDT on the web, App, and API at 4:00 PM (UTC+8) on October 24, 2023. Leveraged trading, simple earn coins, and GASUSDT perpetual contracts for GAS/USDT were officially launched on the web, App, and API at 6:00 PM (UTC+8) on October 24, 2023.

ChainCatcher news, according to The Data Nerd monitoring, DWF Labs received 1.32 billion SPELL tokens (worth approximately $544,000) from the Abracadabra team 4 hours ago.Earlier news, on September 19, DWF Labs received 3.3 billion SPELL (approximately $1.57 million) from the Abracadabra.Money: MIM Treasury Wallet and deposited it into Binance within a few hours.

ChainCatcher news, the issuer of the algorithmic stablecoin MIM, Abracadabra founder Daniele Sestagalli, has restarted the project "WAGMI" and stated that the Popsicle Finance token ICE can now be exchanged for WAGMI tokens. Daniele Sestagalli tweeted that the WAGMI project and its tokenomics will be the best design he has ever created.

ChainCatcher message, Abracadabra Money has approved the AIP28 proposal on September 14, selecting DWF Labs as the DAO market maker.The main content of the AIP 28 proposal is: DWF Labs requests a token loan of 4.62 billion SPELL (worth $1.8 million) and to purchase $1 million worth of SPELL at a 15% discount (locked for 24 months, sourced from future SPELL release budget) to enhance SPELL liquidity. The proposal started voting in the Abracadabra Money community on September 2 and has now concluded.

ChainCatcher news, according to Lookonchain monitoring, DWF Labs has just received 3.3 million SPELL (approximately 1.57 million USD) from Abracadabra.Money: MIM Treasury Wallet.

ChainCatcher message, the Snapshot voting page shows that the issuer of the algorithmic stablecoin MIM, the Abracadabra community, is voting on the proposal for "further revision of interest rates." This proposal is a revised version of the "adjustment of CRV cauldrons interest rates" proposal, and the voting will end on August 6.The revised proposal was put forward by Abracadabra whale masterofdisaster.eth, who previously voted against the initial proposal with 10 billion SPELL, accounting for nearly 100% of all opposing votes. He stated, "I believe that the completed repayments and the potential increase in CRV liquidity require a change to the proposed interest increase. Therefore, I voted against the previous proposal and proposed new terms."It is reported that compared to the original proposal, the new proposal modifies the scope of the unpaid principal and the corresponding base interest rate, with the proposed base interest rate being lower than before. The interest rate multiplier has been replaced by the range of interest rate changes and the ability to affect the overall base interest rate.

ChainCatcher news, the proposal from the Abracadabra community, the issuer of the algorithmic stablecoin MIM, regarding "interest rate adjustments for CRV cauldrons" has not passed, with a support rate of only 27.74%. Among them, the whale masterofdisaster.eth cast 10 billion SPELL votes against the proposal, accounting for almost 100% of all opposing votes.Previously reported, the proposal aimed at addressing the significant CRV risk exposure currently faced by the protocol, suggesting the application of a collateral-based interest rate to the two CRV cauldrons. As a result, the interest rate for CRV collateral would include a benchmark interest rate, which depends on the sum of the outstanding principal of the two CRV cauldrons. The actual interest rate would be generated by combining the benchmark interest rate and the interest rate multiplier. The interest rate multiplier would depend on the collateral ratio of the cauldrons.

ChainCatcher news, according to the Snapshot page, the algorithmic stablecoin MIM issuer Abracadabra community passed the "Emergency Freeze CRV Market Liquidation" AIP 13.4 proposal with a 100% support rate. This proposal suggests fixing the price of the cauldron oracle in extreme CRV liquidity conditions to optimize the value of the DAO and avoid liquidation in a chain reaction.It is reported that the purpose of this proposal is to grant Abracadabra DAO the authority to timely replace the existing oracle responsible for pricing CRV tokens in the event of a chain event. By making timely replacements, the DAO can effectively extract and securely store CRV tokens in the vault, ensuring their safety and minimizing potential risks associated with chain events.

ChainCatcher news, the algorithmic stablecoin MIM issuer Abracadabra community has released a new proposal to adjust the interest rates on CRV cauldrons.The proposal states that, given the protocol's current significant CRV risk exposure, it is proposed to apply a collateral-based interest rate to the two CRV cauldrons. As a result, the interest rate on CRV collateral will include a benchmark rate, which depends on the sum of the outstanding principal of the two CRV cauldrons. The actual interest rate will be generated by combining the benchmark rate and the interest rate multiplier. The interest rate multiplier will depend on the collateralization ratio of the cauldrons.The effect of this proposal is that all interest will be directly deducted from the collateral of the cauldrons and immediately transferred to the protocol's treasury, increasing the DAO's reserve ratio, thereby reducing the DAO risk associated with liquidity conditions related to CRV.

ChainCatcher news, the issuer of the algorithmic stablecoin Stablecoin MIM, the Abracadabra community has released a new proposal to introduce a centralized entity that will represent the DAO in trademark registration, manage server costs, and protect the protocol's intellectual property, while still keeping control in the hands of governance token SPELL holders.The proposal states that currently Abracadabra relies on community members to privately fund essential services such as hosting and domain names. However, this decentralized structure poses challenges for protecting intellectual property, as evidenced by its blog being forced to migrate due to baseless copyright claims. (Source link)